Stepan Income, Profit Up

9:38 AM MDT | April 21, 2009 | Vincent Valk

Stepan reported first quarter income today of $15.2 million, or $1.43/share, up from $8.7 million, or 85 cts/share, in the same period last year. Profit grew by six percent, or $2.8 million, as net dropped by 17 percent, to $318.1 million. The company expects working capital reductions to continue through the year. "The relative stability of demand for surfactants within the laundry and personal care markets, falling commodity prices combined with expense control enabled Stepan to achieve record first quarter results," says CEO F. Quinn Stepan...